2024-07-31T09:08:45-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 8215 GREENWAY BOULEVARD SUITE 600 MIDDLETON WI 53562 990 2023-01-01 391431651 NEIGHBORHOOD HOUSING SERVICES OF SOUTHWEST WISCONSIN INC NEIG 6086474949 125 EAST SEMINARY STREET RICHLAND CENTER WI 53581 CATHY LINS EXECUTIVE DIRECTOR 6086474949 2024-07-29 1 1 LAURA SCHWEITZER CPA P01760010 6086628600 2024-07-29 2023 2024-08-08 14:25:15Z CATHY LINS 125 EAST SEMINARY STREET RICHLAND CENTER WI 53581 616398 0 X WWW.NHSRCWI.ORG X 1983 WI TO DEVELOP, ADMINISTER AND CONDUCT HOUSING REHABILITATION SERVICES; AND TO PROVIDE HOME OWNERSHIP COUNSELING AND OTHER RELATED NEIGHBORHOOD IMPROVEMENT ACTIVITIES. 3 3 7 8 0 0 343442 451135 123064 158946 -6149 4997 844 1320 461201 616398 0 0 0 0 228237 266365 0 0 0 234832 358830 463069 625195 -1868 -8797 5064493 4973896 3187380 3105580 1877113 1868316 TO DEVELOP, ADMINISTER AND CONDUCT HOUSING REHABILITATION SERVICES; AND TO PROVIDE HOME OWNERSHIP COUNSELING AND OTHER RELATED NEIGHBORHOOD IMPROVEMENT ACTIVITIES. 0 0 146470 0 15661 NHSSW OWNS AND MANAGES THE 23-UNIT PARK HOTEL SENIOR CITIZEN APARTMENTS (THE HISTORIC PARK HOTEL) IN RICHLAND CENTER, WI SERVING LOW-INCOME SENIOR TENANTS, WHICH IT DEVELOPED, REHABILITATED, UPDATES AND USUALLY HAS A 100% OCCUPANCY RATE EXCEPT FOR TURNOVERS. 245434 0 144605 PROVIDE REHABILITATION GRANTS AND LOANS TO QUALIFIED LOW INCOME AND OTHER QUALIFIED INDIVIDUALS TO ASSIST THEM IN BUYING HOMES AND PAYING ADMINISTRATIVE COSTS ASSOCIATED WITH LOW-INCOME HOUSING LOAN ASSISTANCE PROGRAM. 391904 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 WI X CATHY LINS 6086474949 125 E SEMINARY ST RICHLAND CENTER WI 53581 BARRY ZIEGAHN PRESIDENT 1.00 X X 0 0 0 RICHARD MCKEE VICE PRESIDENT 1.00 X X 0 0 0 CATHY ROONEY SECRETARY 1.00 X X 0 0 0 EVAN WONTOR TREASURER 1.00 X X 0 0 0 RAY SCHMITZ DIRECTOR 1.00 X 0 0 0 MICHAEL KAUFMAN DIRECTOR 1.00 X 0 0 0 MICHAEL STARKS DIRECTOR/TREASURER 1.00 X 0 0 0 TAMMY CLAUSEN DIRECTOR/SECRETARY 1.00 X 0 0 0 CATHY LINS EXECUTIVE DIRECTOR 40.00 X 100736 0 0 100736 0 0 1 0 0 0 0 451060 75 451135 RENT/TENANT ASSISTANCE 900099 143285 143285 SERVICE AND ADMIN FEES 900099 15661 15661 158946 4997 4997 MISC INCOME 900099 1320 1320 1320 616398 160266 0 4997 100736 70515 30221 147251 49739 97512 78 78 18300 8632 9668 158 158 44516 44516 453 453 2953 604 2349 22155 1246 20909 2655 2655 42805 39702 3103 15005 14381 624 23371 20188 3183 48184 39362 8822 9154 6168 2986 HOME EXPENSES 101303 101303 REPAIRS & MAINTENANCE 19677 14442 5235 ELEVATOR MAINTENANCE 14434 14434 BAD DEBT EXPENSE 9611 9611 2396 1124 1272 625195 391904 233291 0 X 723775 738265 82329 85635 3969925 3909418 4840 5139 1640886 1405447 283624 235439 5064493 4973896 30225 25372 5959 5959 630261 608456 2500455 2445581 20480 20212 3187380 3105580 X 748654 737280 1128459 1131036 1877113 1868316 5064493 4973896 -8797 0 X 0 1 X 1 0 X 462318 485160 484936 343442 451135 2226991 202681 202015 188866 123908 160264 877734 664999 687175 673802 467350 611399 3104725 0 11733 246 11979 11733 246 11979 3092746 2674 1303 1873 1550 4997 12397 2674 1303 1873 1550 4997 12397 667673 688478 675675 468900 616396 3117122 0.99220 0.99370 0.00400 0.00290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20000 20000 1509238 1318550 190688 111648 86897 24751 235439 CONSTRUCTION AND OTHER ESCROW 9807 SECURITY DEPOSIT PAYABLE 10405 20212 X 616398 0 616398 0 616398 625195 0 625195 0 625195 PART X, LINE 2: NEIGHBORHOOD HOUSING SERVICES OF SOUTHWEST WISCONSIN, INC. HAS ADOPTED THE ACCOUNTING GUIDANCE FOR RECOGNIZING AND MEASURING UNCERTAIN TAX POSITIONS. NHS FOLLOWS THE STATUTORY REQUIREMENTS FOR THEIR INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING ADDITIONAL INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO NEIGHBORHOOD HOUSING SERVICES OF SOUTHWEST WISCONSIN, INC.'S TAX-EXEMPT STATUS WOULD NOT HAVE A MATERIAL EFFECT ON THE ACCOMPANYING FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE AMENDED DURING 2023. TOTAL NUMBER OF REQUIRED BOARD MEMBERS WAS CHANGED FROM 13 TO 6-12. THE COMPOSITION OF THE BOARD MEMBERS WAS UPDATED FROM "TWO MEMBERS SHALL BE CITY OFFICIALS, WHO WILL BE APPOINTED BY THE MAYOR OF RICHLAND CENTER. AT LEAST TWO AND NO MORE THAN FOUR OF THE BOARD SHALL BE AFFILIATED WITH THE RICHLAND CENTER LEADING INSTITUTIONS" TO NO COMPOSITION REQUIREMENTS ON THE BOARD OF DIRECTORS. BYLAWS WERE CORRECTED TO SHOW THAT THERE ARE NO MEMBERS WHERE IT WAS PREVIOUSLY STATED ANY ADULT IN RICHLAND COUNTY WISCONSIN COULD BE A MEMBER. THE BOARD VOTES ON ANY IMPORTANT MATTERS, THERE ARE NO OTHER VOTING CLASSES. DESCRIPTIONS OF BOARD ROLES WERE UPDATED TO INCLUDE THE CURRENTLY PERFORMED DUTIES OF EACH ROLE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR WILL REVIEW AND DISTRIBUTE THE DOCUMENTS TO THE ENTIRE BOARD VIA EMAIL. MEMBERS WILL REVIEW THE DOCUMENTS TOGETHER WITH THE EXECUTIVE DIRECTOR TO ADDRESS ANY CONCERNS, CLARIFICATIONS, OR CORRECTIONS THAT ARE NEEDED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD SIGNED A CONFLICT OF INTEREST STATEMENT THAT OUTLINES THE POLICY IN 2023. IT DESCRIBED THE AREAS OF CONCERN AND FOLLOWED THE RECOMMENDATIONS OF BOARD SOURCE, A NATIONAL ORGANIZATION FOR NONPROFIT LEADERSHIP AND A PARTNER OF NEIGHBORWORKS AMERICA. CLIENTS REVIEW A LIST OF BOARD MEMBERS AND STAFF IN THEIR PAPERWORK AND PROVIDE DETAILS IF THEY HAVE A RELATIONSHIP WITH ANY OF THESE PARTIES. IF YES, THAT WOULD FLAG A REVIEW AND STEPS TO AVOID THOSE INDIVIDUALS FROM INVOLVEMENT IN DECISIONS OR ACTIONS THAT WOULD COMPROMISE THE TRANSACTION HAPPENING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO ANYONE UPON REQUEST AT THEIR OFFICE. PRIOR YEAR RESTATEMENT FOR THE YEAR ENDED 12/31/2022, THERE WAS A RESTATEMENT OF THE AUDIT WHICH CHANGED LIABILITIES, NET ASSETS AND HOUSING PROGRAM EXPENSES. THE FOLLOWING CHANGES TO THE 2022 BALANCE SHEET WERE MADE IN THE CURRENT YEAR - ACCOUNTS PAYABLE DECREASED $131,641; DEFERRED REVENUE DECREASED $16,107; AND LOANS PAYABLE INCREASED $2,500,455. NET ASSETS WITH DONOR RESTRICTIONS DECREASED $2,352,707. PROGRAM EXPENSES REPORTED ON PAGE 1, PART 1, LINE 17 FOR OTHER EXPENSES DECREASED $114,355. THE CUMULATIVE NET ADJUSTMENT WAS $2,467,062.